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AML SAR Filing / BSA Reporting

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    DOWNLOAD  $1.39


    Description

    Anti-Money Laundering, Suspicious Activity Reporting, Bank Secrecy Act Workflow APP

    AML SAR Filing / BSA Reporting App (ASBA) is a critical risk management and AML compliance tool for businesses at risk of being victimized by money laundering. Detecting and reporting potential money laundering incident are critical business requirements for firms engaged in financial transactions. All financial services firms are required to administer an AML compliance program. Failure to do so could result in fines imposed by regulatory agencies. Failure to detect money laundering transactions poses significant reputational risk that can lead to significant monetary fines, business closure and imprisonment.

    The AML SAR Filing / BSA Reporting App offers a rules based compliance tool addressing government reporting guidelines, filing procedures and requisite FinCEN links to assure expeditious filing with enforcement agencies.

    Full filing instructions and links to FinCEN SAR Reporting, CTR, CMIR, FBAR and Certification for Correspondent Bank Reporting and other valuable AML compliance resources are explained and integrated into this work flow app to mitigate the threat of money laundering incidents.

    Program Functions

    Intro to SAR Filing and BSA Reporting
    Instructions on FinCEN Registration
    FinCEN Registration Link
    FinCEN Forms Library
    High Risk Accounts
    SAR Scorecard
    SAR Investigation Report

    Instructions and links to file:
    All SAR Reporting Types
    Including MSB, Credit Unions, Security Brokers, Casinos, Jewelers
    Currency Transaction Reports (CTR)
    Foreign Bank and Financial Accounts (FBAR)
    Certification for Correspondent Banks
    Currency and Monetary Instrument transactions (CMIR)
    Travel Rule Compliance
    OFAC Search / Emergency Notification

    ASBA Users:
    Credit Unions
    Money Service Business
    Jewelers
    Casinos
    Car Dealerships
    Banks
    Alternative Lenders
    Hedge Funds
    Broker Dealers
    RIA's
    CTA/CPO
    Correspondent Banks
    Fund Administrators

    Sum2 also offers a full complement of AML compliance products to address regulatory compliance requirements.